Qatar Telecom (Qtel) has confirmed that it has reached a provisional agreement to double its holding in Iraqi mobile operator Asiacell to 60%. According to Bloomberg the USD1.47 billion transaction will see the company increase its ownership in the cellco to 53.9%, with an additional stake increase dependent on approval from Iraq’s government and regulators. In an emailed company statement Qtel has indicated that the transaction will be financed from existing funds, without confirming which group is selling the stake.
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OVETEL Qtel to double Asiacell stake for USD1.47bn
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